11min chapter

"Hexapodia" Is the Key Insight: by Noah Smith & Brad DeLong cover image

PODCAST: Hexapodia LVI: Economic Development: Oks & Williams, Rodrik & Stiglitz

"Hexapodia" Is the Key Insight: by Noah Smith & Brad DeLong

CHAPTER

Debating Economic Development Strategies

This chapter explores the historical context of commodity export booms by newly independent nations, debating between import substitution and controlling resource prices. It delves into fair pricing in market economies, the impact of technological progress, and the unequal exchange between manufacturers and commodity owners. The discussion also delves into neo-colonialist interpretations, socialist ideologies, and the economic potential of post-colonial countries based on their resources.

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